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Future of Real Estate in Gurgaon
Future of Real Estate in Gurgaon?
This could probably apply to most of the Indian cities (I mean....their future; but I would like to just focus on Gurgaon Real Estate.
There is no doubt that Gurgaon of today is better in many ways as compared to many Indian cities. However, given the current construction scenario, I feel there would be a massive oversupply of both Commercial and Residential Properties in the next 36 months.
Land in Gurgaon (DLF, Sushant Lok etc) is far cheaper than land prices in many areas of Delhi and offer better quality of lifestyle. However, I don’t feel that apartments in Gurgaon would command a better price in the future i.e. appreciate. Only a few high end complexes like Ambience Island, DLF Aralias and a few more premium ones could command more.
Look at the whole Golf Course Extension Road. One can still see a lot of open spaces but in no time, hundreds of new building will come up and the area would look no different than the Golf Course Road.
Is there enough Water and Electricity in Gurgaon for all this new development? Already the current infrastructure is overbearing and the private builders generate their own electricity and have dug their water boring.
How much difference would the Metro make? What about the traffic and chaos that would continue to rise? Let’s not forget that Gurgaon does not have the kind of backup/governance as Delhi.
There is lot of new money for the Haryana government and the locals have never had any experience with town planning. Imagine Gurgaon’s Municipality is just 2 years old and what difference has it made
Gurgaon seems more like an investors market with all the financiers, builders and politicians parking their black money. For others too, it is probably the best place to invest your black money as the buying process is fairly simple and efficient and the environment is pretty multi-cultural and less threatening.
If you drive around the new buildings on Sohna Road, most of them seem empty. Builders are constructing residential and commercial complexes right on NH8 up to Manesar. And people seem to be buying at the ongoing escalated rates, thinking that property prices will only go up so it is still a good time to buy; looking at past increases in Indian real estate prices.
How may people can we expect to migrate from Delhi and other parts of the country to Gurgaon? How many more companies would shift base here? (The ones from Hyderabad?) Would there be more business opportunities and employment due to a robust economy and a high GDP growth?
The Million Dollar question still remains.
Until Then.
This could probably apply to most of the Indian cities (I mean....their future; but I would like to just focus on Gurgaon Real Estate.
There is no doubt that Gurgaon of today is better in many ways as compared to many Indian cities. However, given the current construction scenario, I feel there would be a massive oversupply of both Commercial and Residential Properties in the next 36 months.
Land in Gurgaon (DLF, Sushant Lok etc) is far cheaper than land prices in many areas of Delhi and offer better quality of lifestyle. However, I don’t feel that apartments in Gurgaon would command a better price in the future i.e. appreciate. Only a few high end complexes like Ambience Island, DLF Aralias and a few more premium ones could command more.
Look at the whole Golf Course Extension Road. One can still see a lot of open spaces but in no time, hundreds of new building will come up and the area would look no different than the Golf Course Road.
Is there enough Water and Electricity in Gurgaon for all this new development? Already the current infrastructure is overbearing and the private builders generate their own electricity and have dug their water boring.
How much difference would the Metro make? What about the traffic and chaos that would continue to rise? Let’s not forget that Gurgaon does not have the kind of backup/governance as Delhi.
There is lot of new money for the Haryana government and the locals have never had any experience with town planning. Imagine Gurgaon’s Municipality is just 2 years old and what difference has it made
Gurgaon seems more like an investors market with all the financiers, builders and politicians parking their black money. For others too, it is probably the best place to invest your black money as the buying process is fairly simple and efficient and the environment is pretty multi-cultural and less threatening.
If you drive around the new buildings on Sohna Road, most of them seem empty. Builders are constructing residential and commercial complexes right on NH8 up to Manesar. And people seem to be buying at the ongoing escalated rates, thinking that property prices will only go up so it is still a good time to buy; looking at past increases in Indian real estate prices.
How may people can we expect to migrate from Delhi and other parts of the country to Gurgaon? How many more companies would shift base here? (The ones from Hyderabad?) Would there be more business opportunities and employment due to a robust economy and a high GDP growth?
The Million Dollar question still remains.
Until Then.
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